2014-11-06

The best way to support Artists is to pay them directly

What if streaming doesn't work out for the Artist? If streaming services aren't the answer for the music business, what will be the model for creators moving forward? If it doesn't work out, will there ever be enough money for musicians to make a living?

Technology in this space has been all about making consumer friendly solutions, and streaming provides a solution consumers are looking for – a jukebox in the sky, large catalogs of music, on demand, any time, streamed to any speaker you own. Companies making consumer first products are driven to make the product as cheap as possible. They’re not creating creator-first companies. And so creators are struggling to make a living.

Fans, however, want to support Artists they love. If there are easy ways to let fans pay Artists directly, they will do so. Often they will pay more for music if offered the opportunity to do so.

If streaming services do not convince large masses of consumers to pay for their services, and the distribution of this subscription revenue is not passed to independent Artists, then these Artists will need creator driven technology that helps fans easily support Artists by paying them directly. Fans will step up to the plate, either through patronage, crowdfunding, tips or direct purchases.

Artists have a role here also. Most Artists don’t tell fans how they can support them, or take advantage of tools that make it easy for fans to support them. 

Music itself is not doomed, because we’ll always need it to free our souls. If streaming doesn’t work out and creators stop making music because they can’t make a living from their streaming royalties, fans will step up and support Artists by paying them directly to keep music alive.

  

2 comments:

Adam Faigen said...

I hope you are right; Even the most famous bands now are not doing as well financially as they used to be; so it's that much harder for us "little guys"

Chris McHale said...

Good question and I have half the answer. Currently, a stream is worth .33 cent per play, which is essentially 0% per play, and I doubt that will ever change. So streaming is no great promise for the future. Period.